Manappuram Finance Ltd (MNFL.BO)
12 Feb 2014
|Market Cap (Mil.):||Rs18,885.10|
|Shares Outstanding (Mil.):||841.21|
* Shares in India's Manappuram Finance surged 20 percent, their maximum daily limit, for a second day after India's central bank relaxed gold-lending rules for non-bank finance companies. * Bank of America Merrill Lynch upgrades the stock to 'buy' from 'underperform' and raises its target to 25 rupees from 13.1 rupees after the RBI move. * "We view this as a big positive as it will now create a level-playing field with banks and spur growth back for Manappuram Finance," the investment bank in a
MUMBAI - The Reserve Bank of India (RBI) has tightened rules for finance companies which lend against gold, a fast-growing business in the country, in line with the recommendations of an internal panel.